Caterpillar (NYSE:CAT) Price Target Lowered to $490.00 at JPMorgan Chase & Co.
JPMorgan Chase & Co. has lowered its price target for Caterpillar (NYSE:CAT) from $515.00 to $490.00 while maintaining an "overweight" rating. This new target suggests a potential upside of 31.34% from the current stock price. Other analysts have varied opinions, with some raising their targets and others lowering them. Currently, Caterpillar's stock is trading at $373.07, down 0.5%, with an average rating of "Hold" and a price target of $379.47. Insider trading activity has also been noted, with several shares sold recently.
Caterpillar (NYSE:CAT - Get Free Report) had its price target dropped by research analysts at JPMorgan Chase & Co. from $515.00 to $490.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 31.34% from the stock's current price.
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A number of other equities research analysts have also commented on the company. Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the company an "underperform" rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their price target on Caterpillar from $455.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Citigroup decreased their price objective on Caterpillar from $460.00 to $420.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Morgan Stanley cut their price objective on shares of Caterpillar from $330.00 to $300.00 and set an "underweight" rating for the company in a report on Friday. Finally, Truist Financial dropped their price target on shares of Caterpillar from $471.00 to $455.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $379.47.
View Our Latest Stock Analysis on CAT
Caterpillar Stock Down 0.5 %
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Shares of CAT traded down $1.91 during midday trading on Friday, hitting $373.07. 1,195,915 shares of the company's stock traded hands, compared to its average volume of 2,248,985. Caterpillar has a 1 year low of $299.93 and a 1 year high of $418.50. The firm's fifty day moving average is $381.40 and its 200-day moving average is $370.82. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $180.12 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13.
Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. As a group, sell-side analysts anticipate that Caterpillar will post 21.71 earnings per share for the current year.
Insider Activity
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In related news, insider Cheryl H. Johnson sold 2,664 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares of the company's stock, valued at $4,906,356.84. The trade was a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of Caterpillar stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the transaction, the director now owns 4,976 shares of the company's stock, valued at $2,079,968. The trade was a 20.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,900 shares of company stock valued at $13,111,601 in the last quarter. Insiders own 0.29% of the company's stock.
Institutional Trading of Caterpillar
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar during the 3rd quarter worth $36,000. Albion Financial Group UT boosted its position in shares of Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company's stock worth $36,000 after purchasing an additional 77 shares in the last quarter. Kimelman & Baird LLC raised its holdings in Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company's stock worth $39,000 after purchasing an additional 30 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC raised its holdings in Caterpillar by 130.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company's stock worth $42,000 after purchasing an additional 65 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.
About Caterpillar
(Get Free Report)Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.
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